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A Diagrammatic Exposition of Weak Complementarity and the Willig Condition

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  • V. Kerry Smith
  • H. Spencer Banzhaf

Abstract

This article provides a graphical explanation for one of the most important restrictions to utility functions used in revealed preference approaches for measuring the demand for public goods and product quality—weak complementarity. It also describes how the Willig condition is an important element along with weak complementarity in measuring Hicksian consumer surplus for changes in public goods or quality using Marshallian demand curves. Copyright 2004, Oxford University Press.

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File URL: http://hdl.handle.net/10.1111/j.0092-5853.2004.00591.x
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Bibliographic Info

Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 86 (2004)
Issue (Month): 2 ()
Pages: 455-466

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Handle: RePEc:oup:ajagec:v:86:y:2004:i:2:p:455-466

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Cited by:
  1. Smith, V. Kerry & Banzhaf, H. Spencer & Walsh, Randy, 2002. "General Equilibrium Benefit Transfers for Spatial Externalities: Revisiting EPA's Prospective Analysis," Discussion Papers dp-02-44, Resources For the Future.
  2. V. Smith & Mary Evans & H. Banzhaf & Christine Poulos, 2010. "Can Weak Substitution be Rehabilitated?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 45(2), pages 203-221, February.
  3. David G. Brown, . "Preference-Theoretic Weak Complementarity: Getting More with Less," Departmental Working Papers 2008-09, Department of Economics, Louisiana State University.
  4. Kuminoff, Nicolai V., 2008. "Recovering Preferences from a Dual-Market Locational Equilibrium," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 5989, Australian Agricultural and Resource Economics Society.
  5. Bockstael, Nancy E. & Freeman III, A. Myrick, 2006. "Welfare Theory and Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 12, pages 517-570 Elsevier.
  6. von Haefen, Roger H., 2007. "Empirical strategies for incorporating weak complementarity into consumer demand models," Journal of Environmental Economics and Management, Elsevier, vol. 54(1), pages 15-31, July.
  7. V. Smith & Subhrendu Pattanayak, 2002. "Is Meta-Analysis a Noah's Ark for Non-Market Valuation?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(1), pages 271-296, June.
  8. Spencer Banzhaf, H., 2005. "Green price indices," Journal of Environmental Economics and Management, Elsevier, vol. 49(2), pages 262-280, March.
  9. Palmquist, Raymond B., 2005. "Weak complementarity, path independence, and the intuition of the Willig condition," Journal of Environmental Economics and Management, Elsevier, vol. 49(1), pages 103-115, January.
  10. David G. Brown, . "A Preference-Theoretic Methodology for Nonmarket Goods," Departmental Working Papers 2008-07, Department of Economics, Louisiana State University.
  11. Smith, V. Kerry & Banzhaf, H. Spencer, 2007. "Quality adjusted price indexes and the Willig condition," Economics Letters, Elsevier, vol. 94(1), pages 43-48, January.
  12. David G. Brown, . "Falsifying the “Goodness” of Nonmarket Goods with Revealed Preference," Departmental Working Papers 2008-08, Department of Economics, Louisiana State University.
  13. V. Smith & George Van Houtven, 2004. "Recovering Hicksian Consumer Surplus within a Collective Model: Hausman's Method for the Household," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 28(2), pages 153-167, June.
  14. Phaneuf, Daniel J. & Smith, V. Kerry, 2006. "Recreation Demand Models," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 15, pages 671-761 Elsevier.

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